Franklin Resources Inc. Sells 39,172 Shares of CAVA Group, Inc. (NYSE:CAVA)

Franklin Resources Inc. reduced its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 947,553 shares of the company's stock after selling 39,172 shares during the period. Franklin Resources Inc. owned approximately 0.83% of CAVA Group worth $106,884,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI purchased a new position in shares of CAVA Group during the 4th quarter valued at $25,000. Allworth Financial LP boosted its position in shares of CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after acquiring an additional 192 shares during the last quarter. Larson Financial Group LLC increased its position in shares of CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Whittier Trust Co. grew its stake in CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after buying an additional 127 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company's stock valued at $36,000 after buying an additional 283 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CAVA Group news, insider Kenneth Robert Bertram sold 678 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares of the company's stock, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 851 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the sale, the insider now directly owns 358,995 shares of the company's stock, valued at $42,785,024.10. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is owned by insiders.

Remove Ads

Analyst Ratings Changes

Several brokerages have issued reports on CAVA. Wedbush reaffirmed an "outperform" rating and set a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. TD Securities cut their price objective on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a research note on Thursday, March 20th. Finally, Robert W. Baird set a $105.00 price objective on CAVA Group and gave the company an "outperform" rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $127.56.

CAVA Group Price Performance

CAVA stock traded up $2.82 during trading on Monday, hitting $78.01. 3,129,572 shares of the stock traded hands, compared to its average volume of 3,072,791. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 169.09 and a beta of 3.33. CAVA Group, Inc. has a 1 year low of $58.22 and a 1 year high of $172.43. The firm's 50 day moving average is $104.28 and its two-hundred day moving average is $120.58.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.